But a report by Floor64's Michael Masnick, released by the Computer and Communications Industry Association, shows the opposite is true: The entertainment industry is not being killed by the world wide web.

Since 2000, the portion of household spending that went to entertainment increased from 4.9 to 5.62 percent by 2008. Put another way, that's a 15 percent increase in consumer spending on publishing, movies and music, the report states.